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not market -- market all of. gerri: you bring a degree point because the first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn a lesson and not do a test again because all they're doing getting in our way causing a lot of banks and warrior necessarily for the american public and investors or a wide. gerri: a broader question. you're a smart guy and you watch all this stuff. one of the things the we're waiting for, listening tour, s&p, moody's, downgrade are dead again, what will happen? we will be the ramifications? how will that hit individual investor portfolios? >> there is a risk that traditionally when they're is a downgrade of a bond rating the value of the bond goes down as well, which means if you own u.s. government securities you're going
ceiling issue. >>> then the ceo of the company that owns the stock exchange. up next with jeffrey sprecher. he will join me exclusively. >>> also facebook has been red hot lately. tomorrow there's a big announcement. could it disappoint or ignite a bigger rally for the stock? coming up. [ male announcer ] you're not the type of person who sets goals and only hopes to achieve them. so you'll be happy to know that when it comes to your investment goals, northern trust uses award-winning expertise to lead you through an interactive investment process. adding precision to your portfolio construction by directly matching your assets and your risk preferences against your unique life goals. we call it goals driven investing. your life has a sense of purpose. shouldn't your investments? ♪ expertise matters. find it at northern trust. office superstore ink retailer in america. now get $6 back in staples rewards for every ink cartridge you recycle when you spend $50 on hp ink. staples. that was easy. >>> welcome back. we're following a report that dell is considering selling itself to private equ
-bills. at the end of 2011 the last time we had a debt ceiling issue we saw bill rates for four week bills and three-month bills start to move up. today we had a one-month bill auction, trading on at five basis points and the auction went off at 9.5 basis points and many are attributing to anxieties and rule 2a7 from the s.e.c. which gives you rules on what kind of time frames can you have with respect to holding in the money funds and a little bit of selling today may be from that group as well. >> anxiety over the debt ceiling crisis? >> exactly. about getting principal back as ridiculous as it may sound. >> david, jump in here. feels like a slow volume day again. are people waiting on some of the banks earnings because tomorrow we've, of course, got some bigies? >> waiting on earnings, but earnings expectations are very low. i think 60% to 70% of stocks will beat their estimates this quarter, and i'm going to watch for guidance over the balance of the year, maria. now you'll have three guests here who are going to be favorably disposed to the market and that makes me a little bit nervous. neverth
the debt ceiling issue so there's some lessening uncertainty but still a lot of uncertainty. so, as we think about '13, i believe if we get some kind of just halfway reasonable leadership out of washington and deal with the debt issue and begin to deal with our fiscal deficits. >> right. >> i think, maria, you could see a real positive lift because people are ready to invest. they need to feel some kind of inspiration, and i think they are ready to invest. >> that's what we're hearing across the board. real quick, you going to raise your dividend this spring? >> well, as you know, we have to go through the process, and we have to wait to see what the fed says, but i'm optimistic. i can't speak for the fed but i'm personally optimistic. >> we'll leave it there. mr. king, good to have you on the program. >> have a good day. >> and to you. chairman and ceo of bb&t. didn't hold on to the triple-digit gains. does that mean we're setting up for a pullback tomorrow? our panel of wall street pros will give you a leg up on what's going to move your money tomorrow. don't miss it. ♪ ♪ [ male
of the year. as businesses get more confident because we get through the fiscal cliff and the debt ceiling issue. >> we'll see how we get through it and where the cuts come from. >> go ahead, samir. >> i was going to say it's been really interesting how much of a rotation you've seen in tech especially on the sentiment side. all about the death of the pc and the likes of intel and dell and hp selling off and now it's completely the opposite where a lot of the stocks have had pretty nice runs, whether it's because, you know, they have announced restructurings or buybacks, and now it's kind of the -- maybe not the death of it or whatever, but you've had a very nice pullback. very interesting how quickly you've seen that rotation in technology, and i kind of point people back to the fall as to how quickly things change in a hurry. >> thanks very much. have a great weekend, and we will talk soon. >> thanks. >> appreciate your time tonight. major averages hitting three-week winning streaks with the dow and the s&p 500 touching five-year highs. bob pisani has all the action today. >> the importa
. the debt ceiling is something that he will lead with. you should expect to hear a number of different issues. gun control will be one of them. fiscal issues did not know away. i think that and deficits will be a major part of what you hear from the president. connell: dagen had a good question earlier, why a formal news conference now? >> i think he is trying to put maximum pressure on the republicans to negotiate. i think the republicans are in disarray. when your opponent is weak, go for the kill. dagen: third-graders compromise would be on guns. we want to introduce the president of the united states. >> good morning. i thought it would make sense to take some questions this week as my first term comes to an end. it has been a busy and productive for years. i expect that same thing for the next four years. right now, our economy is growing and our businesses are creating jobs. we are poised for a good year, if we make smart decisions and sound investments. as long as washington politics do not get in the way of america's progress. as i said on the campaign, one component to growing
that are going to be before us, once we get past this debt ceiling issue so my recommendation with investors is that at this point in time, it's premature to react to those comments, even though they may be troubling to all of us. let's see how it unfolds before you begin making any investment moves based on a potential tax hike. cheryl: well, yeah. talking about more tax revenue coming in, i'm sorry, but ears perk up. let's talk about the specific company that you like on your radar, and there's a couple reasons. first and foremost, they doubled the dividend on monday. the company doing well financially, at the same time, dividend payers like a ford, joe, could, again, fall out of investor payer. do you stick by ford if the tax fight continues? >> yes, because beyond the dividend, it's an attractive stock. auto industry as a whole, we think, has still tremendous upside potential since it bottomed out in 2009, it continues to improve. ford, specifically, streamlined down to lincoln and ford models. they have a ways to go yet, but they are really looking to compete head on in the united state
are some of the top republicans responding to president obama on this debt ceiling issue? >> reporter: well, jon, republicans are clearly uncomfortable with prominent democrats already talking about a tax increase when you consider the fiscal cliff deal raised taxes and every worker with a payroll tax hiring expiring and raised taxes on upper income americans even further, check your pay stub. a leading republican says responding to the president what's critical is getting spending under control. >> it's a compelling message saying we ned to pay the bills we've racked up. of it messes the whole point again. think of it in terms of a credit card. in you have a son or daughter who exceeds the limit, the first thing you do is rip up the card, the second thing you do is you say you need to change your spending habits. >> reporter: they say we need to a just what bills we are paying and how they are paying. jon: the issue of depending on disaster relief could provide tkraeupl drama there on capitol hill. >> reporter: speaker john boehner promised that the house would take up sandy relief bills
. i think the question is how much will these issues from washington, whether it's the debt ceiling, the sequester, the lingering uncertainty over the long-term budget picture undermine confidence, lower the valuations of u.s. companies because people just have less confidence in long-term trajectory. >> jared, president obama starts his second term next week. his inauguration, of course, monday. what has he done right in the last four years, in your view, what could he have done better or has he done wrong? >> four years ago right around this time when i was a member of the administration's economic team i was remembering just the juks of position about the great hope and expectations and just the real horror of what was going on in macro economy. gdp contracting at 9%, losing 700, 800,000 jobs per month. i think the president came in and hit very hard and broke the back of the great recession a lot sooner than people expected, certainly the financial markets were reflated much more quickly than -- and at less ek pence than people expected. and pretty soon, really by the second hal
's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks? >> absolutely. that is the question of the day, isn't it, jared. the ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business own whole wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that we're in a compromising mode than we heard, say, a week ago. right now they're talking about perhaps an increase in the debt ceiling that lasts for a couple of months, that is offering that
to americans, namely the economy, deficit and yes, even the debt ceiling. tracy: did he miss the boat though? i mean -- >> he missed --. tracy: you have an evil streak in you, you're going to do bad things. >> if you have an evil streak. if you're also mentally ill because the last four of these mass shootings, tragically have all involved mentally ill individuals. their actions, their actions are solely responsible for what transpired. nothing this president, interestingly, putting out 23, memoranda, second i have is -- executive actions calling on congress three basic things on gun control, none of them approach the issue he said this was all about, that is protecting our children. there was not one proposal or in sum all of his proposals today, that rose to the level of security and safety offered by the nra proposal to put armed guards at every school in the country. i mean that's, that is breathtaking. and how many in the national liberal media will talk note of that fact? lori: what is interesting to me, what i've been thinking about over these last couple weeks especially since newtown a
on this debt ceiling issue. i know you've said you're not negotiating on it. your administration has ruled out the various ideas that have been up there, the 14th amendment just this morning one of the house democratic leaders jim clyburn asked you to use the 14th amendment and even said sometimes that's what it takes, he brought up the emancipation proclamation, saying it took executive action when congress wouldn't act and he compared the debt ceiling to that. are you considering a plan "b"? and if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so there's a very simple solution to this. congress authorizes us to pay our bills. now, if the house and the senate want to give me the authority so that they don't have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, i'm happy to take it. mitch mcconnell, the republican leader in the senate, had a proposal like that last year. and i'm happy to accept it. but if they want to keep this responsibility then they need to go ahead a
broader macro issues, and i think it's the debt ceiling and sequestration talks, are really keeping the lid on the market so i don't suspect you'll see a real move up and through 1475 unless there's clarify coming out of washington. that's what i think the market really wants to hear. >> it sure does. rick, do you want to hear that? >> no, i don't think we will. but i do think the republicans are probably going to be more inclined when they come up with the weekend restreet strategy to pay more attention to the sequester side of the equation, my opinion. i agree with greg ip. if you're looking for the big run up in interest rates in 2013, at least in my opinion, you're going to be disappointed. here's what i still can't reconci reconcile. the beige book didn't give us a positive grow on jobs and on the 30th of month we'll look at the annualized pace of growth in the form of gdp, looking for 1.5%. another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it
should never be frightened by our nation's leaders, the issue of who is what gets paid in a debt ceiling impasse, a shut town of government, would be entirely up to the president of the united states period. if congress does fail to lift the debt ceiling by late february, the treasury department has to cover about 450 billion-dollars. in obligations. about 450 billion. revenue at that point, $2 77 billion. essentially the government will be able to cover about 60% of its bill. 60% of its bills, treasury would make the interest payments on the debt that could is about 40 billion. okay? just for debt, we could still pay up social security benefits, they account for about 61 billion-dollars. and we could still pay veterans and our military, that would cost $17 billion for the military and for veterans. that is still only $118 billion of that $2 17. $118 billion. i want to ask you. why would anyone not be appalled by a president saying what he just did? implying there would not be adequate money to take care of social security obligations during that period. imply its would not be up to him
if congress doesn't raise the debt ceiling. president obama says he will not negotiate this issue with congress but republicans want any increase in the debt ceiling to be tied to spending cuts. >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so -- there is a very simple solution to this. >> now, in a statement, john boehner indicated the republican party is prepared for a fight. he said "the consequences of failing to increase the debt ceiling are rule but so are the consequences of allowing our spending problem to go unresolved." >>> state lawmakers in sacramento are closely watching this debate in washington. the concern is that if congress doesn't act on the debt ceiling, the national economy could dip and that would likely have a negative effect on california's budget numbers. push >> the biggest risk to our forecast or the analysts' forecasts could come next month and that's from washington, d.c. >> the 2013 budget release by governor brown showed a surplus for the first time in many years and that was thanks to new tax revenue
to addressing the issues in the country. it is good they have had a good first step agreeing on the debt ceiling, but it seems to be only a first step. connell: the matter what you call it or how you slice it there seems to be issues after the election. now they're on this retreat whether it is the reports coming up with some sort of short-term debt ceiling, the bigger picture, what should the priorities be in your view? >> first, i hope there was shock therapy fo so anybody says the d rape, they shot the whole things we can get away from that tendency somehow and members of our congress. the polling on republican party is focused on washington, which is very interesting since we a party that focuses on state. as a negative view of the washington republicans, we need to start focusing on the success that republicans have in the states. we will talk about that, but chris christie is getting all the attention, but john avalon wrote about how the number of minority governments at the republican party far exceeds the democrats. not just because of ethnicity, but these people like bobby jindal, suzan
showed lingering concern over remaining major fiscal issues like the debt ceiling is weighing on the mind of consumers. that is the latest from the fox business network, giving you the power to prosper ashley: research in motion looking to win big with the release of its new blackberry 10. the smart phone being unveiled later this month. and there is news out today that the tech company's stock is getting an upgrade. shibani joshi has details on the rim buzz. shibani. >> the buzz keeps buzzing on this one, you can't really escape it. jeffries today upgrading the stock saying they believe the e-mail and bbm messenger service will be licensed to the iphone as well as to android phones that is licensing revenues for research in motion which it needs. also getting some apps out there and early traction with enterprise customers signing onto this. that is news lifting it higher today, all around up 98%, almost doubled in the last three months. ashley: so are the gains real? this of course has been a favorite of. >> this is interesting. we're starting to uncover this a little bit. short interes
. will they lose the debt ceiling, too, will they force the issue or run scared because public opinion is not on their side? >> i think there are really three teams in washington. people on the left that include the president. people on the right, people who voted against boehner's plan b and people who want a deal done. i think in the end, people who want a deal done will prevail. maybe at the last hour or three hours after the last hour, we don't know. it was quite obvious the president was trying to blow up the deal on december 31st, while biden and mcconnell were out there negotiating, the president had a pep rally in the east room in which he directly attacked both the congress and the republicans, people trying to do the deal. any who's done any negotiations know what you should have done is praise the process, not attack the people in the middle of the process. i don't think the president liked that deal, i don't think he wanted a deal. i think he'd rather have the issue and i think in this case, he'd also rather have the issue. it will be very very hard to get a serious deal do
. issue number one is raising the debt ceiling which allows you to pay the bills we're already voted for. and that was already voted for. maybe they shouldn't have been, but already was voted for. not to raise the debt ceiling would cause the government to default on its debts interest rates would spike and destroy economy. david: i can't allow that to go by congressman, because there is no guaranty we would default as a result of reaching that point. i mean we have enough revenue coming in to pay off our bondholders. >> well, depends what you mean by default. if you paid bondholders at expense of not paying social security checks or salaries of military or salaries of the air traffic controllers the fact is we have 40% difference between the income coming in and the expenditures that were voted. that would be regarded by the financial markets as a default. david: it would require, more cut backs in spending. there is no question it would cause enormous, as you point out quite rightly, 40 cents of every dollar that we spend is borrowed. that is part of the problem. >> that's right. david
other issues like the sequestered. republicans are floating a short-term debt ceiling increase with some modest cuts to deal with the automatic spending cuts that government funding levels and get back to an argument or discussion over the debt ceiling and spending levels once you reach the next few months. that is right now what they are discussing. they have not decided on that strategy. this is just the house republican strategy. it would then have to keep an over to the senate and agree with senate democrats and the white house. for republicans they say this is all about structural spending changes. >> i think it is very clear at this is not just the notion of paying back past dues for the united states but also making sure that the dead obama administration wants to continue to incur is restrained. >> reporter: republican leaders continue to meet with members discussing a number of different ways to deal with the debt ceiling, short-term mr. -- short term. also a longer-term extension of the ceiling that would involve larger cuts, structural changes to entitlements and tax reform, a
could the end of the debt ceiling debate sooner than expected? the house said they would vote on a debt ceiling bill next week. is this deal pushing off a bigger issue and how can you play it all to your advantage? liz: because we're a business network. what is the trade. a guy who believes he knows. larry mcdonnell, new edge director. we can not control the people in washington. we certainly can anticipate what they might do and trade off it. the debt ceiling, first of all, how big of a deal would it be to the markets in general? >> if they extended it 45 days, it would be relief. everybody is expecting march 1st problem. around december 10th looked like the president would meet the speaker. markets, beautiful rally from the december 10th to the 18th the markets rallied beautifully. from the 18th to the end of the markets dropped 4%, 4% from december 18th to the end of the year because all the good things we thought were happening behind the scenes fell apart. david: let me challenge you on that though. some people say they want to lock in the lower capital-gains tax rate at the old ta
and the mini cliffs that we're going to encounter. the debt ceiling cliff, the southwe sequestration cliff and the budget battle. does it stand in the way of what could be happening in the country? >> it stands in the way in two ways. if you're a company that does business with the defense department, if you're watching this sequestration madness. our the debt ceiling madness, are you going to be hiring new people? are you going to be expanding production? no, you're going to be wondering, is the defense department budget cut by 20%, 10%? so there is that -- >> you will hesitate to make certain business decisions, particularly hiring decisions? >> exactly. republicans often talk about how uncertainty makes businesses not expand production. well this is the biggest uncertainty is the craziness over the debt ceiling. and the second biggest is on the sequestration. there's that piece of it. but there's the broader piece that you and i have talked about. which is we need to do more than just have a cyclical upturn. what you were describing very elegantly. exactly right, is that there's a cycli
is this important? because we're back to this tax issue with regard to the debt ceiling potentially and revenues and we continually here about things in the past and i'll tell you this. talk to any family that's paying whatever rate they were paying in 2012 and that's the rate that makes their family work. whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the board is even getting excited. but debt and stimulus are the same. it just depends on which side of the check you're on. the 1.2 trillion every year in debt is basically a stimulus. so why is it so shock or why is it that to stop increasing debt that once you do the numbers go down? you know what it's l
with the fiscal cliff, the debt ceiling, and other pressing issues. and finally radio shack is ending its mobile phone partnership with target. the venture has been unprofitable and radio shack has been unable to negotiate more favorable terms. >>> as you know, the house is set to vote today on a $51 billion superstorm sandy package that has already turned in to a bitter battle over spending. joining us now is congressman frank pallone, who represents the sixth district of new jersey, one of the hardest-hit areas of the jersey shore during the late october storm. and congressman, thank you for being here. this was a late october storm. we are now in january. this is still going back and forth. what's happened? >> well, unfortunately, the package was delayed. it was passed in the senate just before new year's, but then the house speaker refused to take it up, and you know, we were very critical of that, because the bill could have been passed in the house and become law with the president's signature and we'd be in the rebuilding process for the jersey shore right now. but now with more and more
was in it. >> very difficult. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require bu
it be impact full on people's portfolios if there is not a debt ceiling bill? >> i think what is going to happen is that i think investors are actually being very pragmatic about how they are addressing the issues in washington. investors are incredibly adaptive creatures. so what you're seeing is investors right now, okay. rather than looking for the big deal, let's clear these turtles. liz: come home like they're missing the rally. >> but they are starting to see levels of engagement. the notion that everyone is on the sidelines is misplaced. plenty of cash, zero people are selectively engaging. we are trying to get people to engage in a thoughtful way in areas where we think the risk/reward clearly favors you. liz: the people feel that 40 percent of significantly better than one year ago. 56 percent get about their financial situation. inching higher. they are not doing much with it to make the money to capitalize. if you were to advise people watching right now about the fear that drenches them at night or is that they will get bank again $ 2009 to march a particular, would you say
saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but some of those moves that will happen by the government and therefore the decision for investment and therefore there is a little bit of uncertainty. that is a big reason why we have given a guidance of .5% to 3% in large range. >> suresh -- >> based on the deal plan that we have, we feel that -- what? >> so just to be clear, you're basically saying just so people know what we're talking about, the guide kwans for the current quarter was between 1.2% and 3.5%. you came in at 2.4% revenue growth. your guidance for the next period is 0.5% to 3%. that was half a percent lower than the market was expecting. but y
security, or the military or benefits. and not because of self-imposed crisis on a debt ceiling but we will be out of money. that is what the republicans are trying to avert. the president is playing this likebe a demagogue notto pretend we don't have a debt issue. we do. that is hanging above us and what will destroy the credit rating in the end. not a crisis we create and then get around as we have in the past. but a real one of a country that cannot pay its debt anymore. which is where we are headed. >> bret: next up is the u.s. getting involved in a another war on terror in mali? b or best-ever meatloaf. go to for recipes, plus a valuable coupon. campbell's. it's amazing what soup can do. to help protect your eye health as you age... would you take it? well, there is. [ male announcer ] it's called ocuvite. a vitamin totally dedicated to your eyes, from the eye care experts at bausch + lomb. as you age, eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. ocuvite has a unique formula not found in your multivitamin to help protect your eye h
there shouldn't be one. president obama thinks there shouldn't be one. do you think there should be a debt ceiling? >> listen, i prefer having a ceiling. i prefer having that sense of discipline. >> right. >> i like everybody else in this country, including the politicians have been frustrated by our inability to grab this issue by the throat and start doing something about it for the future of our competitiveness. now, we had a start with the deficit reduction efforts. >> right. >> prior to that i thought the bowles simpson commission was a powerful response to what we could do about our own deficit. >> why do you think the president ignored that? i mean his own commission, he ignored it. why do you think he did that? >> i can't speak for the president charlie. >> why do you think it got no traction then? >> this is politics. this requires two parties -- you had the republican party had to concede something on the take side. the democrats had to concede something on the spending side. the way i saw it with the spending cuts that were in process already and with the growth in the economy,
on the debt ceiling i think is so false how we racked up the bills and how we're now trying to say we don't want to pay them. who would possibly issue you more credit when you haven't put forward a plan how you're going to spend within your means within the future? american dress will not raise your limit when you can't pay it simply because you want more credit? you need to have a workout plan to deal with your debt before someone will loan you more money. >> i love this nonsense that he is spewing about being, we're not a deadbeat nation. thank you, mr. president. god we're so thrilled to have your blessing on that reality. that kind of nonsenseal talk, nonsenseal, not common senseal talk, is really the stuff that doesn't belong in a white house. it doesn't belong in the discussion. we are a debtor nation. we have been a debtor nation for quite some time. the issue is how to change it. i love the capricious way, if the problem were just about reducing deficits. mr. president, that is exactly what it is about. it is about cutting spending. it is about getting this government under contro
. that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a budget together in years. we have a revolving credit, a tab at this all you can eat buffet and nobody wants to get up. it is not like there is a clock where boom. here is your bill. we'll start the next 24 hours like your charting machines. nobody is ever getting up. it's just a meal that never ends. so how do you in essence stop the eating, stop the debt that is created by running up the tab? well, it seems easy enough but of course it gets messy and the politics are different than the principles involved. the house republicans seem to have finally figured that out. let's look at what some of the key playe
over the debt ceiling, you hit it, calamitous. and you have other words from damaging to manageable, republicans saying we can do this for awhile and it will be okay. i want to look at specific issues here. democrats say any missed government payment is a default. republicans say, no, only when you don't pay the interest on the debt. how about on the issue of can the government prioritize payments so that the incoming cash equals the outgoing cash? really the republicans -- i'm sorry, democrats saying no authority to do this and really no ability to program our computer system to do that. republicans saying you know what? the government can pay just the interest, social security and defense spending meaning military salaries. markets, of course, democrats say they're going to demand higher wage because of this. republicans will suggesting they'll overlook this gridlock. finally on the economy, a lot of folks saying it would cause a depression. republicans say, there are temporary effects here. now, okay, so let's do this. could you, if you were treasury secretary, so you make spendi
Search Results 0 to 35 of about 36 (some duplicates have been removed)